RA 10693 which was enacted on November 3, 2015 provides for a preferential tax rate of two percent (2%) to duly registered and accredited Microfinance nongovernmental organizations (NGOs) on their gross receipts from microfinance operations in lieu of all national taxes.
The preferential tax treatment shall be accorded only to NGOs whose primary purpose is microfinance and only on their microfinance operations catering to the poor and low-income individuals in alignment with the main goal of this Act to alleviate poverty. The non-microfinance activities of Microfinance NGOs shall be subject to all applicable regular taxes.
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